As the world continues to shift to digital channels for everyday activities, many organizations are now becoming more reliant than ever on Marketing Technology (MarTech) to connect with their customers. MarTech refers to tools that marketers use to conceptualize, implement, and assess marketing campaigns utilizing a mix of platforms and technologies including social media, analytics, and artificial intelligence, to name a few.

Recognizing the growing relevance of MarTech in our digitizing world, Union Bank of the Philippines (UnionBank) was one of the participants at this year’s Virtual MarTech Summit, wherein the Bank’s Customer Experience Retail Segment Head Tracy Lim joined a discussion on emerging trends, tools, and platforms related to the said technology, and how the right technologies can help marketers stay ahead of the competition and connect meaningfully with customers.

Lim cited the capabilities of MarTech to help ensure that every department in an organization is well-represented, especially when it comes to decision-making involving the marketing of their products and services. This is crucial as each department plays an important role in the delivery of these products and services. "Each part of the business should really be well-represented and should be aware of the goals and how to achieve them."

Lim also underscored the importance of every team member being on the same page, while also ensuring that there are no silos within the organization, as this can hinder transparency and collaboration. Doing these, she said, can help an organization maximize its use of MarTech solutions.

When implementing something, there should be trust and understanding of the same languages. Having this foundation will actually give you confidence during implementation.

—Tracy Lim, Customer Experience Retail Segment Head, UnionBank  

With countless MarTech solutions available in the market today, it's very common especially for first-time adopters to worry about which MarTech platform or service will benefit them the most. But what these organizations should focus more on, Lim said, is how they will keep the momentum going after successfully implementing the solution that they will eventually choose. "I think one of the challenges would be after implementation. How well will you adapt now that you have these kind of new technologies?"

According to Lim, being open-minded and adaptive to change is what will help organizations navigate these and other challenges revolving around the use of MarTech. She added that with the ever-advancing developments in technology, continuous learning is also a must. "Adaption is key, so keep an open mind and [know that] it's okay to learn new things and upskill," Lim concluded.